itim Group CFO on 2024 profit, retail strategy and growth plans

Proactive - Interviews for investors

itim Group PLC chief financial officer Ian Hayes takes Proactive's Stephen Gunnion through the company's performance in 2024, which marked a key turning point as itim moved from loss to profit. Hayes explained how the business reached a profit before tax of £0.2 million, improving from a £1.1 million loss in 2023. According to Hayes, “Our whole focus for 2024 was to break even. So the fact that we just made a small profit is a major turning point for us.” He credited this progress to a deliberate pivot towards profitability, focusing on smaller, short-term service projects with existing customers instead of chasing larger, long-term transformations. The company, which provides a unified platform for retail transformation, has a strong customer base that includes major names such as Tesco, JCPenney, Walmart and McDonald’s. Hayes highlighted four pillars of the platform—sales, pricing and promotions, supply, and optimisation—tailored to different tiers of retailers. Key contract wins for 2024 included the renewal of five-year agreements with The Entertainer and Majestic, as well as a significant new deal with Brazilian wholesaler Assai Atacadista. Hayes noted the competitiveness of the Assai deal, stating itim had beaten ten other suppliers to secure the contract. Looking ahead to 2025, Hayes described a robust pipeline, despite wider industry headwinds. Cost pressures on retailers are prompting more companies to seek out itim’s solutions to improve profitability. “Retailers are now coming to us and saying, how can we transform our business?” Hayes said. Watch the full interview for insights into itim Group PLC’s performance, platform strategy, and future opportunities. For more interviews and updates, visit Proactive's YouTube channel. Don’t forget to like the video, subscribe to the channel, and enable notifications for future content. #itimGroup #RetailTechnology #IanHayes #RetailProfitability #FinancialResults2024 #RetailTransformation #SubscriptionRevenue #UKStocks #TechForRetail #ProactiveInvestors